Hello traders,
let’s hit them charts:
1. EUR/USD
EUR/USD closed with a doji last week which signifies a stale mate between the bulls and the bears.
The key support zone is not far off either. This means we may see price form a consolidation around the key support zone this week. The higher lows and higher highs formed shows that the bulls are still in charge, but before we join in, its important we wait for see what price will do around the key support zone
If we do get a bullish confirmation, then we join buyers to revisit the next possible resistance zone, and if there is a bearish breakout of price through the ascending narrowing channel, then price next stop will most likely be 0.96723
2. GBP/USD
GBP/USD is approaching a key resistance zone (pink band) which may halt the bulls in their track. For those selling that may be a good spot to sell if we do get a nice bearish confirmation.
If you are interested in buying the GBP/USD, it will be wise to wait for price to break the pink band, and place target profit as 1.22444
3. USD/JPY
The key support zone on the USD/JPY proved to be strong enough to hold the bears from breaking through the entire last week
Closing with a morning star candlestick formation shows that the bulls may most likely continue from where they stopped last week. If that happens then price next target will most likely be 150.135
If the present support zone (Blue band) fails, then price may hit the next possible support zone (pink band)
4. EUR/JPY
Higher lows, higher highs can be spotted on the EUR/JPY, but I will only feel comfortable trading the EUR/JPY if the key resistance zone or key support zone is broken
If the key resistance zone is broken, we have a little over 160 pips to the next possible resistance level (149.471). If the key support zone is broken, then we should be looking at 141.088 as our next possible support level
5. GBP/CHF
Last week GBP/CHF closed with price sneaking into the consolidation band after forming higher lows and higher highs, and also breaking through the key resistance level (1.15264)
This week we may most likely see price continue a bullish run to the up side (0.17159) of the consolidation band
What say you?
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